We recently shared a new functionality of Survata with subscibers to our newsletter: trackers. We’ve seen a great response from our clients, who have used them to track brand satisfaction, measure changes in consumer preferences, and even create consumer confidence indexes.
If your work is affected by broad, macro trends, keeping an eye on consumer confidence is critical. Instead of simply analyzing consumer confidence findings released by universities or the government, our clients have been able to affordably create their own and gain a proprietary view of the economy.
Best of all, you can base your consumer confidence index on whatever you define as an economic driver. For example, you could track:
- whether consumers buy their coffee at a coffee shop or make it at home
- whether consumers perceive gas prices to be rising or falling
- whether full-time employees expect a raise in the next 6 months
- whether contract workers expect more or less work in the coming quarter
If you have an idea for creating a consumer confidence index, go ahead and get started!